New Jerseyans may soon hit their breaking point with gas prices

“Twenty. Regular. Cash.” isn’t getting anyone a significant amount of gas in the Garden State these days.

With gas prices at levels we haven’t seen in years, New Jerseyans are really feeling the impact in their wallets at the pump, but is it bad enough that it has affected your other expenses?

At what price per gallon would you have to start cutting back on essentials?

That was the question asked in a study performed by Advance America to determine where people’s breaking points are with the stress of high gas prices.

Three thousand respondents took part in the survey, and their answers were analyzed alongside current gasoline price data sourced from AAA’s gas price averages per state.

49% of Americans say they feel extremely or very stressed about fuel costs

Financial breaking points could take form in ways like trimming down grocery lists, cutting down on utilities, canceling plans if they seem too pricey, or financial stress generally going up a notch.

Now this may be our classic stubbornness at play, but according to Advance America’s research, we New Jersey drivers have yet to hit our breaking point.

New Jerseyans say they would start cutting back on essentials when gas prices reach $5.06 per gallon.

How would the breaking point impact Jersey road warriors?

More than 4 in 10 said they would cut back on eating out or takeout first, followed by travel and leisure (29%).

A whopping 13% claimed that they would reduce grocery spending, while 3% would cut back on things as critical as healthcare or medications.

Yikes.

Fingers crossed we’ll be seeing much lower prices soon.

The post above reflects the thoughts and observations of New Jersey 101.5's Kylie Moore. Any opinions expressed are Kylie's own. You can follow Kylie on Instagram.

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